An international agreement signed between Mondial Assistance

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					Translation of press release

Paris – Oberursel, February 22, 2002

              An international agreement signed between
            Mondial Assistance Group and Thomas Cook AG

Mondial Assistance Group, the international leader in assistance and travel insurance,
and Thomas Cook AG, the second largest Leisure Group in Europe, have signed an
international agreement, which will allow customers of tour operators and travel agencies
Thomas Cook to benefit from Mondial Assistance Group’s extensive know-how in both
travel insurance and assistance products. Travel insurance includes policies such as
cancellation, baggage or accident, while assistance encompasses such items as medical
expenses, repatriation, information services, or dispatch of medicine. In addition the
agreement includes services tailored to the specific needs of Thomas Cook AG; for
example, the setting-up of a “crisis help desk”, providing 24hour hotlines, a contact point
for families and friends, medical assistance, and other related services.

Stefan Pichler, Chairman and CEO of Thomas Cook AG, commented: “we have enjoyed a
long-standing relationship with Mondial Assistance Group, co-operating, through Elvia, in
both Germany and France for more than 30 years. Hence I am pleased that we can now
build on this foundation and extend our agreement to an international level. Mondial
Assistance Group is one of the few in its field to both benefit from an international
dimension and to be in a position to jointly offer assistance and travel insurance services,
an essential element of our requirements.”

For Alain Demissy, President of Mondial Assistance Group, “this agreement is an
opportunity to become the international partner of Europe’s second largest Leisure Group.
It is in line with our international client strategy, which was initiated over 10 years ago.
Besides tourism, today the group counts many international agreements with automobile
manufacturers and insurance companies”.

In its initial phase, this partnership includes Thomas Cook AG’s sales markets Belgium,
France, Germany, the Netherlands and Poland.

For the Netherlands the international agreement signifies that Thomas Cook Netherlands,
with the brands Neckermann Reizen and Vrij Uit along with the travel agencies Reisburo
Groep and Thomas Cook Franchise Group, will offer ELVIA travel insurance to their
customers. ELVIA will provide assistance to these customers while travelling anywhere in
the world. Both organisations will actively co-operate as business partners to achieve the
highest possible quality standards in the provision of advice, products and services to the
various customer groups, whereby the needs of the individual customer will be the guiding
principle.

In Poland, Elvia Poland accompanies Neckermann Polska in its customer approach via
new distribution channels. In addition to traditional channels, Neckermann Polska
proposes its travel packages through the internet. Travel insurance will become an
integral part of this proposal and will therefore be available on Neckermann's local web-
site.
In Belgium, cancellation insurance has been adapted to the changing needs of the market
so that people booking a holiday with the Thomas Cook tour operators, such as
Sunsnacks or Neckermann, can now be covered for items such as cancellation in case of
divorce or loss of personal documents, just to name a few. In addition, by means of a
supplement they can benefit from a wide range of assistance services such as medical
expenses, repatriation and other services.

In Germany, the collaboration between Elvia Reiseversicherungs-Gesellschaft and
Thomas Cook AG, especially in sales and marketing activities, has been strengthened by
this agreement. In addition to existing partnerships with the Thomas Cook tour operators
Neckermann, Air Marin, Aldiana, Bucher Reisen, Kreutzer Touritisk and Terramar, Elvia
now provides innovative products and customised services to tour operator Condor
Individuell.

In France, Elvia has now become Havas Voyages’ and Aquatours’ (both companies
belonging to Thomas Cook AG) sole partner, selling the insurance policies through its
country-wide network of more than 400 travel agencies.


Through this enlarged collaboration, both groups intend to reinforce their respective
market positions.




Press contacts


Thomas Cook AG                                     Mondial Assistance Group
Pressestelle                                       Angela Espermüller
Tel.: +49-6171-651700                              Tel.: +33 1 53 25 53 18
Fax :+49-6171-651060                               Fax: +33 1 53 25 54 40
Internet : www.thomascookag.com                    Email: angela.espermuller@
Email : press-office@thomascookag.com              mondial-assistance-group.com
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About Thomas Cook AG

Thomas Cook AG is Europe’s second largest Leisure Group and jointly owned by
Deutsche Lufthansa AG (50%) and KarstadtQuelle AG (50%). In the last financial year
(2000/2001) the company achieved revenues of eight billion Euro and served some 14
million guests. Across the globe, the company employs some 28,000 staff. In Europe,
Thomas Cook AG is present in the sales markets of Austria, Belgium, France, Germany,
Great Britain, Hungary, Ireland, Netherlands, Poland, Slovenia and Slovakia, with
Neckermann as the best known brand in continental Europe.


About Mondial Assistance Group

International leader in assistance and travel insurance, Mondial Assistance Group
accompanies its corporate clients in their own evolution. As a multispecialist international
service provider, Mondial Assistance Group has developed its activity especially for three
client sectors: automobile industry, tourism and insurance / financial institutions.

The group’s commercial approach involves the search and implementation of solutions
tailored to the specific needs of the client. This approach, based on a long-term client
partnership, has allowed Mondial Assistance Group to gradually widen its field of
competence and to offer its clients complete one-stop-shop packages.

As a member of the Allianz group, Mondial Assistance Group generated a turnover of 804
million Euro in 2000; in its 37 operations centers, 5000 people organised more than 11
million interventions. Mondial Assistance Group’s products and services are offered to its
corporate clients in 42 countries. Since July 2001, Worldcare Assist, the Australian market
leader in roadside assistance and CRM services, is part of the Mondial Assistance Group.

In all markets concerned by this agreement, travel insurance and assistance services are
provided through Elvia, a trademark and company of the Mondial Assistance Group.

				
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